Bank of America 36th Annual Investment Conference

James B. FlawsVice Chairman and Chief Financial Officer

September 20, 2006

Forward Looking and Cautionary

Certain statements in this presentation constitute “forward looking” statements within the meaning of the U.S. Private Securities Litigation Reform Act of 1995. Such forward looking statements are based on current expectations and involve certain risks and uncertainties. Actual results might differ from those projected in the forward looking statements. Additional information concerning factors that could cause actual results to materially differ from those in the forward looking statements is contained in the Securities and Exchange Commission filings on the Company and at the end of this presentation.

Agenda

• Q3 Guidance

• Update - Display

Q3 Guidance – Revised 9/6/06

Revised Previous

Sales (in billions) $1.27 - $1.31 $1.26 - $1.33

Gross Margin 42% - 43% 41% - 43%

Sequential display volumeWholly-owned business Up 10%-15% Up 5%-15%Samsung Corning Precision Up 8%-12% Up 5%-15%

EPS excluding special items (1) $0.24 - $0.26 $0.22 - $0.26(1) This is a non-GAAP measure. Please refer to the GAAP reconciliation on our web site.

Q3 Guidance - Unchanged

~ 1.59 billionShares

15% - 20%Tax Rate

Down 5% - 10%Equity Earnings

~ 10% of SalesRD&E

~ 17% of SalesSG&A

Q3 Guidance - Unchanged

Flat to Down SlightlyFlat to Down SlightlyFlat to Down Slightly

Segment SalesFiber and Cable SalesHardware and Equipment Sales

Consistent with Q2

Consistent with Q2

Up 5% - 10%

Environmental Segment Sales

Life Science Segment Sales

Other Reportable Businesses Sales

Telecommunications Segment

Declines consistent with Q2Declines more than Q2

PriceWholly owned businessSamsung Corning Precision

Display SegmentAll Data Sequential

Agenda

• Q3 Guidance

• Update - Display

Update – Display

What we said needed to happen in the third quarter:

• Normal end market seasonality

• Reduction in panel inventory levels

• Increase in panel maker utilization rates

If these occurred, we expected to see an improvement in the supply chain and sequential LCD glass volume growth

Update – DisplayWhat has occurred to date:

• Normal end market seasonality– End market trends remain on track

As a result, our glass demand has increased sequentially in July and August and is forecasted to increase in September

• Reduction in panel inventory levels– Panel inventory has fallen, but some excess remains– Sequential panel shipments increased in July and August– Slight increase in monitor panel pricing

• Increase in panel maker utilization rates– Taiwanese panel maker utilization rates increased on average from

70% in July to an estimated 80% in August

Update – Display

Looking forward:

• Continued reduction in panel inventory levels and improvement in panel maker utilization rates

• Seasonal demand and supply chain replenishment will influence second half glass demand

24% 22%25%

29%

17%21%

25%

37%

10%

20%

30%

40%

50%

Q1 Q2 Q3 Q4

Seasonality of LCD monitors and LCD TV

21% 22%26%

31%

10%

20%

30%

40%

Q1 Q2 Q3 Q4

Sets into Retail Distribution

% o

f LC

D m

onito

r (

’03-

’05)

22% 21%25%

32%

10%

20%

30%

40%

Q1 Q2 Q3 Q4

Sets from Retails to Consumers

% o

f LC

D m

onito

r (

’03-

’05)

Seasonality of LCD monitors

Source: iSuppli, DisplaySearch, NPD and GfK

Seasonality of LCD TV vs. All TV

% o

f TV

s so

ld (

’03-

’05)

All TV

LCD

Sets into Retail Distribution

25%20%

32%

15% 17%

24%

44%

23%

10%

20%

30%

40%

50%

Q1 Q2 Q3 Q4

% o

f TV

s so

ld (

’03-

’05)

All TV

LCD

Sets from Retails to Consumers

Update – Display

Looking forward:

• Continued reduction in panel inventory levels and improvement in panel maker utilization rates

• Seasonal demand and supply chain replenishment will influence second half glass demand

Update – Display

Looking forward:

• Continued reduction in panel inventory levels and improvement in panel maker utilization rates

• Seasonal demand and supply chain replenishment will influence second half glass demand

• LCD glass market still on track for volume growth of 40 to 50 percent this year– We expect to grow in line with the market

Update – DisplayWhat to Watch?

• Updates from the panel makers:– Panel shipments/inventory levels– Utilization rates

• LCD market trends:– TV sales and penetration– Global retail and supply chain market statistics

• Customer capacity announcements

• Glass competitor disclosures

• Foreign exchange rates

Forward Looking and Cautionary

This presentation contains forward looking statements that involve a variety of business risks and other uncertainties that could cause actual results to differ materially. These risks and uncertainties include the possibility of changes or fluctuations in global economic conditions; currency exchange rates; product demand and industry capacity; competitive products and pricing; availability and costs of critical components and materials; new product development and commercialization; order activity and demand from major customers; capital spending by larger customers in the telecommunications industry and other business segments; the mix of sales between premium and non-premium products; possible disruption in commercial activities due to terrorist activity and armed conflict; ability to obtain financing and capital on commercially reasonable terms; acquisition and divestiture activities; the level of excess or obsolete inventory; the ability to enforce patents; product and components performance issues; and litigation. These and other risk factors are identified in Corning’s filings with the Securities and Exchange Commission. Forward looking statements speak only as of the day that they are made, and Corning undertakes no obligation to update them in light of new information or future events.